Updated Feb 19, 2026
Laura Rapaport Of North Bridge Closes $8.5 Million C-PACE Loan For JEMB Realty In Manhattan
50 West 34th Street
$8,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 18, 2026
About this deal
AI
A multifamily asset located at 50 West 34th Street in the Manhattan market was involved in a notable financing arrangement. The property consists of a three-building apartment complex known as Herald Towers and is set for infrastructure upgrades. The financing amount for this transaction reached $8,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Lender: Laura Rapaport - North Bridge
- Landlord: JEMB Realty
- Date of Transaction: 02/18/2026
This transaction marks the first multifamily C-PACE deal completed in New York City, reflecting a significant milestone in the real estate financing landscape. The financing was arranged through North Bridge ESG LLC, showcasing their role in facilitating the successful closure of this loan.
On the Map
$8,500,000
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93